Reply to People with $1.2M+ homes and getting significant financial aid

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am a GS-12 Fed with a stay-at-home wife, and we live in a 4M+ McLean neighborhood that is owned by her parents (no mortgage).  They also pay property taxes, maintenance, landscape, and upkeeping of the house.  We are only responsible for electricity and water bills.  I have three kids at two different big3 private, and they each receive about 90% of the financial aid.  Her parents pay the remaining 10% of the tuition.  [/quote]

You're not worried about identifying yourself online?[/quote]

NP, but this isn’t really a distinction here. Lots of families I know fit this bill at my child’s school.[/quote]

I actually do not think that is true and I think you are a troll-- for you to be GS 12 maintaining a 4mm home, well there is your after-tax income.  I would estimate that in one of the big 3 classes, maybe 10% live in 4mm+ homes, and maybe 25% have a real estate portfolio over 4M.  Also, new builds in McLean are 4M, and very few homes that would have been owned by the past generation are 4M.  Property taxes on a 4M home in McLean are about 4x12 = $48,000 per year.  Utilities will run about 1k per month so $12,000 per year, lawn maintenance is about 1k per month for 6 months per year, so $6,000 per year, general upkeep on a home of that size could range from 10k to 50k per year.  This claim on the low end comes out to be about $76,000 per year and a GS 12 salary is 131k before taxes, so 91k after taxes.  I just DO NOT believe this.  Also, your wife thinks you are a huge loser if this is actually true that you are living off her parents and are a grown up who has maxed out as like a true adult with three kids as a GS12.  So odd.  [/quote]

Didn't you read the post. The inlays pay for almost all of it. The poster wrote, "They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills."

I can totally believe this is poster is real.  This is why Warren Buffet won't leave his heirs much money. He said he wanted to leave enough money so they could do anything but not so much money that they could do nothing.

My cousin is married to someone who grew up like this. Grandparents were wealthy and paid for their house and private school. Trust fund parent never really worked. There wasn't enough money for cousin's spouse not to work. It has been a hard reckoning for the spouse to grow up in luxury, go to the most expensive school, spend vacations flying first class and skiing or going to amazing resort, have family vacation homes to living a regular middle class life. Their kids go to public school. The trust fund parent is burning through the inheritance and doesn't pay for their grandchildren's education. [/quote]

They aren't living a regular middle class lifestyle. Be real.[/quote]

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